Despite weakness in the broader market, Waaree Energies Ltd surged nearly 4% on Friday, attracting investor attention. The stock’s rally is backed by strong Q1 FY26 earnings, a robust ₹47,000 crore order book, and significant FII investment.
India’s Leading Solar Module Manufacturer
Founded in 1990 and headquartered in Mumbai, Waaree Energies is India’s largest solar module manufacturer. As of June 30, 2024, the company had an aggregate installed capacity of 13.3 GW, with manufacturing plants located in Gujarat and Noida, and an international facility in the USA (1.6 GW).
Recently, Waaree commissioned a new 1.80 GW solar module line at its Gujarat facility (Degam, Chikhli), which became operational on July 31, 2025.
Q1 FY26 Highlights
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Total Income Growth: Up 31.5% YoY
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Profit After Tax (PAT): ₹772.89 crore, almost double from ₹401.13 crore in Q1FY25
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FY26 EBITDA Guidance: ₹5,500–6,000 crore
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Order Book: ₹47,000 crore — signals strong demand pipeline
FII & DII Activity: Bullish Sentiment
There’s been a sharp uptick in institutional holdings in Waaree Energies:
Period | FII Holding | DII Holding | Total Institutional Holding |
---|---|---|---|
Mar 2025 | 0.70% | 2.46% | 3.16% |
Jun 2025 | 2.68% | 2.86% | 5.54% |
FII stake grew almost 4x
Public shareholding dropped from 32.53% to 30.15%
This shows growing institutional confidence in the stock's long-term potential.
Valuation at Record Low
The stock’s price-to-earnings (PE) ratio now stands at 38.1x, its lowest ever since listing. This drop in valuation, combined with strong fundamentals, makes the stock increasingly attractive for long-term investors.
Stock Performance
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3-Month Returns: +19.18%
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Year-to-Date (YTD): +8.74%
Final Takeaway
Waaree Energies is positioning itself as a dominant player in the solar sector, backed by operational scale, robust earnings, expanding institutional interest, and undervalued metrics. With a ₹47,000 crore order book and record-low PE ratio, the stock appears attractive for long-term growth investors.
Disclaimer: This article is for educational purposes only. Please consult a financial advisor before investing.